Private Pension Plans, Participation, and Assets

The total number of private pension plans increased from 311,000 in 1975 to 733,000 in
1987, then declined to 702,097 in 1993. The total number of private defined benefit plans
increased from 103,000 in 1975 to 175,000 in 1983, then declined to 83,596 in 1993. The
total number of private defined contribution plans rose continuously from 208,000 in 1975
to 619,700 in 1992, then fell to 618,501 in 1993.

As a percentage of all private pension plans, defined contribution plans increased from
67 percent in 1975 to 88 percent in 1993. The most common types of defined contribution
plans are profit-sharing and thrift savings plans. In 1993, there were 477,054 of these
plans, accounting for 77.1 percent of all defined contribution plans. Money purchase plans
were the second most common type of defined contribution plan. In 1993, these plans
numbered 114,997 and accounted for 19 percent of all defined contribution plans.

In 1993, 2 percent of all private pension plans were collectively bargained. More
defined benefit plans than defined contribution plans were collectively bargained. Among
defined benefit plans, 9,343 were collectively bargained, representing 11 percent of all
such plans. This compares with 7,445 collectively bargained defined contribution plans,
representing one percent of all defined contribution plans.

In 1993, total participation in private pension plans was 83.9 million. Among these
participants, 64.7 million were active participants; 8.7 million were retired or separated
participants; and 10.4 million were separated participants with vested rights to benefits.

In 1993, more workers participated in defined contribution plans (43.6 million) than in
defined benefit plans (40.3 million). The vast majority of participants receiving
benefits, among those who were either retired or separated from employment, were in a
defined benefit plan (8.2 million, or 94 percent of all such participants).

Most private pension plan participants were in single employer plans; 73.8 million, or
88 percent of all participants in 1993. Among the 10.1 million participants in
multiemployer plans, most were in a defined benefit plan (8.1 million, or 80 percent of
all multiemployer plan participants). A majority of single employer plan participants were
in defined contribution plans (41.6 million, or 56 percent of all single employer plan
participants); 32.2 million were in single employer defined benefit plans.

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